Which of the following examples illustrates an oligopoly market?
a. a farmers' market with many individuals selling sweet corn and tomatoes
b. a city whose electrical service is provided by one electric co-operative
c. a city with two firms who are licensed to sell school uniforms for the local schools
d. a city with many independently-owned hair styling salons
c
Economics
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In a Bertrand duopoly with product differentiation, explain how a change in one firm's marginal cost can have an effect on the price charged by the other firm
What will be an ideal response?
Economics
If the marginal propensity to consume (MPC) is 0.90, the value of the spending multiplier is 90
a. True b. False Indicate whether the statement is true or false
Economics